Natera Inc 2025年季度报告

(Mark One)⌧QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For thequarterlyperiod endedMarch 31, 2025 OR ◻TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For thetransitionperiod fromto Commission File Number:001-37478 NATERA,INC. (Exact Name of Registrant as Specified in Its Charter) Delaware(State or Other Jurisdiction of Incorporation or Organization) 01-0894487(I.R.S. Employer Identification No.) 13011 McCallen PassBuilding A Suite 100Austin,TX(Address of Principal Executive Offices) 78753(Zip Code) (650)980-9190(Registrant’s Telephone Number,Including Area Code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon Stock, par value $0.0001 pershareNTRATheNasdaqStock Market LLC (Nasdaq GlobalSelect Market)Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90 days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Acceleratedfiler◻Smallerreportingcompany◻Emerging growth company◻ Largeacceleratedfiler⌧Non-accelerated filer◻ If anemerging growthcompany, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the ExchangeAct).Yes◻No⌧ As of May 2, 2025, the number of outstanding shares of the registrant’s common stock, par value $0.0001 per share, was136,546,580. Natera, Inc.FORM10-Q FOR THE QUARTER ENDED MARCH 31, 2025TABLE OF CONTENTS SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS PartI—Financial InformationItem 1. Financial Statements (unaudited)5Condensed Consolidated Balance Sheets at March 31, 2025 and December 31,20245Condensed Consolidated Statements of Operations and Comprehensive Loss forthe Three Months Ended March 31, 2025 and 20246Condensed Consolidated Statements of Stockholders’ Equity for the ThreeMonths Ended March 31, 2025 and 20247Condensed Consolidated Statements of Cash Flows for the Three Months EndedMarch 31, 2025 and 20248Notes to Unaudited Interim Condensed Consolidated Financial Statements9Item 2. Management’s Discussion and Analysis of Financial Condition and Results ofOperations33Item 3. Quantitative and Qualitative Disclosures About Market Risk42Item 4. Controls and Procedures43 Item 1. Legal Proceedings43Item 1A. Risk Factors44Item 2. Unregistered Sales of Equity Securities and Use of Proceeds44Item 3. Defaults Upon Senior Securities44Item 4. Mine Safety Disclosures44Item 5. Other Information44Item 6. Exhibits45Signatures47 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Thisreport contains forward-looking statements.The forward-looking statements arecontained principally in the sections titled “Risk Factors” and “Management’s Discussion andAnalysis of Financial Condition and Results of Operations,” but are also contained elsewhere in thisreport. Forward-looking statements include information concerning our future results of operationsand financial position, strategy and plans, and our expectations for future operations. Forward-looking statements include all statements that are not historical facts and, in some cases, can beidentified by terms such as "believe," "may," "will," "estimate," "continue," "anticipate," "design,""intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or the negativeversion of these words and similar expressions. These forward-looking statements include, but are not limited to, statements concerning thefollowing: ●our expectations regarding revenue, expenses and other operating results;●our expectation that, for the foreseeable future, a significant portion of our revenues will bederived from sales of Panorama, Horizon, and Signatera;●our ability to increase demand and reimbursement for our tests;●our expectation that Panorama will be adopted for the screening of microdeletions and thatthird-party